There has been a 29% increase in the number of people in their 30s taking out new mortgages which run on past pension age.

The projected median age of a first-time buyer at maturity now at 65 years old, up from 56 in 2005.

A range of factors, including rise in supplier costs and delivery timetable being extended by two years, have increased the programme’s estimated cost by 23%.

Buckinghamshire’s later life products are now available through the Advise Wise platform.

Launched in April, the plan is open to applications for customers aged between 55 and 84.

The new process makes it easier for advisers to navigate through search results and filter options.

HMRC said that retirees "may need to wait until the regulations are in place before taking or transferring certain benefits".

The network's advisers will now have access to Air Academy and the Sourcing platform.

The ‘closed book’ phase of the Duty comes into force at the end of July.

LiveMore is also launching a monthly competition for intermediaries to win a £1,000 business development grant.